#RealtyNewsRoundup: Embassy Office Park REIT To List On Bourses On April 1
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Embassy Office Park REIT, the country’s first real estate investment trust, will list on bourses on April 1, ahead of its schedule. Earlier this week, the REIT, a joint venture between Embassy Group and private equity investor Blackstone, raised Rs 4,750 crore from the primary market.
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The Haryana Shahari Vikas Pradhikaran is set to take over the land of nine Gurgaon colonies, whose licences were earlier cancelled by the Department Town and Country Planning. These nine residential and commercial projects are in sectors 37, 74, 81A, 88, 95, 102, 107, 108, 110 and 114, along the Dwarka Expressway.
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As many as 20 homeowners in Faridabad’s Kant Enclave have received notices from the city’s town planning department to vacate their units by March 31, so that these could be demolished. The Supreme Court in September last year ordered the demolition of these units that encroach on Aravali land.
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The Income Tax Department on March 27 attached a bungalow worth Rs 208 crore in the posh Lutyens zone of the national capital. The Prithvi Raj Road-located property, which belongs to a former UP government engineer, has been attached under section 24(3) of the Prohibition of Benami Property Transaction Act.
Source: Media reports